Argentina | Real-time consumption monitoring (Nov 30, 2020)

Summary

General consumption rebounded and reached a real average growth of 10% YoY in the last week. All categories showed progress, with different values. The predictive power of our consumption indicators for economic activity and supermarket purchases is once again confirmed.

Key points

• Key points:
• After almost four months in negative territory, card spending showed strong real growth averaging 10% YoY in the last measurement, with increases in both goods and services.
• All categories showed progress, although some of them still show negative real growth rates.
• The growing industrial demand for electrical energy ratifies the correlation found with the evolution of total consumption made with BBVA cards.
• The INDEC released the EMAE figures for September, once again corroborating the power of real-time fuel expenses made by our customers as a leading indicator of the performance of economic activity.
• Official supermarket sales data for September confirm the slight contraction captured by our real-time supermarket consumption indicator for that month.

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